Originally Posted by DHK
Why not keep these WL and buy additional term?
Keep in mind that "residual" income is not guaranteed income.
You're right residual is not gauranteed. I will not factor that into my decision.
I don't want another policy because I don't really even need the $50k that I'm paying for now.
My plan was to just cancel the policy and take the money (plus a bit more) and start my retirement fund. Then when, or if, I have dependents I would purchase term.
Are there any issues with this plan that I'm missing?
Originally Posted by rousemark
Cancelling the WL policy and buying term would certainly be the advice of the Primerica/ALWilliams folks. As to what a real insurance agent would suggest would require a little more detail. I can say that at age 70, I wish I still had my original WL policies in place.
Please elaborate. My WL policies are only for $25k a piece. By the time I'm 70 I would have paid $15k. The math doesn't seem like a good value but I could be missing something.
What details are you referring to?